BANGKOK, Dec 18 (Bloomberg): Indonesia’s mandate to use more palm oil for producing biofuels and lower reserves in Malaysia will continue to support the tropical oil in the coming months, according to veteran trader Dorab Mistry.
The most-consumed cooking oil may trade between 3,500 ringgit (US$791) and 5,000 ringgit a ton between now and the end of May, unless the war in Ukraine ends, said Mistry, who has been trading palm for about four decades.
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